Bitcoin Wallets

Do I need a Bitcoin wallet?

To be able to buy or sell Bitcoin and other cryptocurrencies, you will need to have a Bitcoin wallet. But choosing the right wallet can be hard. There are many different types of cryptocurrency wallets available. Online cryptocurrency wallets with which you store your currency online are the most common. But there are also cold storage Bitcoin wallets, such as paper wallets and hardware wallets, where you can keep your digital money offline. This is the best way of ensuring your Bitcoin and cryptocurrency is safe as it is completely off-line and no hacker can get to it.

Which Bitcoin wallet should I choose?

They all have their own advantages and disadvantages and it would depend on your individual needs, to decide which BTC wallet is the best for you. In any event, it is best to have several wallets of different types and switch between them depending on your needs. As a general rule of thumb, there are three main categories:

Offline Bitcoin Hardware Wallets: Essentially these are hardware devices which allow you to store your Bitcoin and cryptocurrency and keep your own private keys. Using a hardware BTC wallet is one of the safest and secure ways to store your Bitcoin and cryptocurrency for the long term.

Offline Bitcoin Paper Wallets: There are websites which will allow you to generate your own BTC wallet address and private keys. You can print the key and QR code of your wallet address and this would be your paper bitcoin wallet. It is free to do this and as your BTC is offline it is a very secure way to store it.

To help you choose we have listed some of the best known and most trusted Bitcoin online wallets, Bitcoin hardware wallets and Bitcoin paper wallet generators.

Online Bitcoin Wallets

As the easiest way to get your hands on some Bitcoins and other cryptocurrency is to buy it online, below we have listed and reviewed a number of popular online bitcoin wallets.

Coinbase is a simple yet very functional wallet. It supports Bitcoin as well as Ethereum and Litecoin wallets. You can also have fiat currency wallets in GBP, USD, EUR, and other currencies. It is easy to buy sell and exchange cryptocurrency and fiat currency between wallets.

Blockchain.info is one of the most popular online Bitcoin wallets. It is very simple to use and is a must-have for most Bitcoin enthusiasts. The perfect BTC wallet if you are just starting out and want to get your hands on some Bitcoins quickly and safely.

SpectroCoin is an intuitive cryptocurrency wallet and exchange platform. Headquartered in London, it also offers a prepaid card backed by Bitcoin or altcoins like DASH. This allows the user to withdraw fiat cash from any ATM around the world.

Mobile-only Bitcoin Wallets

There a number of Bitcoin and cryptocurrency available for smartphones only (iOS and Android).

Coinomi supports Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) as well as more than 100 other cryptocurrencies and ERC20 tokens. It is not possible to buy crypto coins with fiat currency but you can transfer Bitcoin and altcoins directly to your wallet addresses. It gives you access to the private keys which gives you complete control. Coinomi partners with both the Changelly and Shapeshift exchanges, and lets you convert cryptocurrencies from within your wallet.

Hardware Cryptocurrency Wallets

Hardware Bitcoin wallets are undoubtedly the most secure way of storing cryptocurrencies.

Ledger Nano S is one of the most beautifully designed, compact and reliable hardware Bitcoin and altcoin wallets. Amongst other cryptos, the wallet supports Ethereum, Ripple, Neo, Dash, ZCash and Bitcoin Cash. New altcoins joining the list regularly. It has an OLED display and connects via USB. The Ledger Nano S hardware wallet costs around £90 ($115) but if you have large amounts of cryptocurrency you want to hold long-term it is worth the investment for your peace of mind.

Ledger Blue is the premium powerhouse cryptocurrency wallet from Ledger. The Ledger Blue currently supports 24 cryptocurrencies, including Bitcoin, Ethereum, and Ripple. This wallet lets you manage up to 11 crypto assets simultaneously. It’s protected with chip & PIN, the same as the one used for passports and credit cards. The Ledger Blue hardware wallet is available to purchase for £249.99 ($315).

TREZOR One is one of the best selling and most trusted harware Bitcoin wallets on the market. It supports 500+ cryptocurrencies, ucluding BTC, LTC, ETH, XRP and BCH! The TREZOR One wallet has a monochrome display with 2 buttons. It connects via USB and is compatible with Windows, Linux and macOS. The hardware wallet device is manufactured in the EU and is on the market for a price of €89 or £79 ($102).

TREZOR Model T is a next-gen Bitcoin hardware wallet developed by SatoshiLabs.The Model T TREZOR features a faster processor, a touchscreen display and comes with a magnetic dock, which you can stick to any firm surface. It also supports 500+ cryptocurrencies! The TREZOR Model T no longer needs a long recovery seed. Compared to the 24-word recovery seed from TREZOR One, the Model T Tresor needs to generate only 12 words. It is marketed at €145 which is around £133 ($167).

Bitcoin Paper Wallets

BitAddress.org is a free online Bitcoin paper wallet generator. It literally takes two minutes to set up and print your offline Bitcoin wallet. Once at the website you hover with your mouse randomly to generate a Bitcoin address. You can then print out one or as many Bitcoin paper wallets as you wish. Simply transfer your Bitcoin to this address to store offline. It also generates a QR code for your private key so it is just as easy to transfer your bitcoin back to an online wallet or exchange.

Disclaimer: This information should not be interpreted as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the product, service and legal and regulatory requirements before deciding to invest or trade. We do not take any responsibility for any possible losses you may incur.